Heed the Creditors More Than the Credit Raters

While Fitch puts the U.S. on negative watch, China's warning shows danger of a MAD Congress.

It's bad enough when one of the major credit raters puts the U.S. on watch for a downgrade. It's worse when the U.S.'s biggest creditor disses America's debt.

Fitch Ratings placed its triple-A rating of U.S. debt obligations on negative watch Tuesday as the efforts of Congress dithered another day as Thursday's D-Day for the debt ceiling drew closer. But even if our esteemed representatives get their act to together and raise the...